Housing Starts Down 21% from One year Ago

The U.S. government is reporting that privately‐owned housing starts in January were at a seasonally adjusted annual rate of 1,309,000, which is 4.5% lower than December’s revised number and 21.4% lower than one year ago. January’s rate for units in buildings with five units or more was 457k. Privately‐owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1,339,000, which is 0.1% below December’s revised number. Authorizations of units in buildings with five units or more were at a rate of 563k in January. Continue reading HERE...